New Delhi: Composite materials producer Jindal Advanced Materials (JAM) has collaborated with Italy's MAE S.p.A. to invest ₹2,700 crore to set up a carbon fibre plant of 3,500 metric tons annual capacity.

With the development, JAM is set to become a key supplier of carbon fibre, a statement said.

According to the statement, JAM has signed an agreement with Italian speciality chemical fibre manufacturer MAE S.p.A. to set up India's first carbon fibre facility of 3,500 metric tonnes (MT) annual capacity at an investment of ₹2,700 crore.

The facility will offer a comprehensive range of intermediates viz prepregs, fabrics, multiaxial and carbon fibre composites catering to diverse industrial needs.

OP Jindal family scion Abhyuday Jindal has invested in the company.

The company aims to penetrate industrial markets, offering lightweight carbon fibre solutions.

JAM's ambitious plan includes the production of low-tow to high-tow carbon fibres, with the capacity expansion projected to reach 10,000 MT by 2027.

MAE, known for its expertise and innovation in the field, signed the agreement with JAM earlier this month at JEC Paris, the largest global industry show for composite materials.

The Italian firm will provide top-tier engineering and equipment, ensuring seamless execution of the project.

The facility is expected to be operational within 30 months, and the project will cover the entire value chain - from polyacrylonitrile (PAN)- precursor to carbon fibre intermediates.

JAM Director CP Agrawal said, "This collaboration aligns with the 'Make in India' initiative, reflecting JAM's dedication to advancing India's carbon fibre industry across various applications".

Jindal Advanced Materials and MAE S.p.A. are set to redefine the landscape of the carbon fibre industry, reinforcing India's position as a global leader in advanced materials manufacturing, Agrawal added.

MAE S.p.A. CEO Marco Rovellini said, "Through our combined expertise and resources, we aim to set new benchmarks in carbon fibre production, catering to the burgeoning demand in India and beyond. This ground-breaking agreement solidifies MAE's position in the global market and further inspires us to innovate and offer cutting-edge solutions globally".

Globally, composites have gained preference due to their distinct advantages, such as being over three times lighter than steel, twice as strong, corrosion-resistant, and non-conductive.

JAM, part of the larger USD 35 billion OP Jindal Group of companies, is a leading manufacturer of high-performance and innovative composite materials.

It has three manufacturing plants in Haryana for various composite manufacturing processes with quality systems.

MAE S.p.A. is a global Italian manufacturer of advanced materials and solutions.

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